Bertelsmann reported annual results this morning in Germany, with sales at Random House falling 6.3 percent for the year, to 1.721 billion euros, as EBIT fell even more, down 21 percent at 137 million euros. (After the first six months of the year, Random had been down almost 8 percent in sales and nearly 30 percent in EBIT.) The company says the drops are “primarily due to negative exchange rate effects,” insisting that “adjusted for these and for acquisitions, revenues remained stable.” But those sales are the lowest recorded in the past seven years (during which the company has made […]
Archives for March 2009
BEA Editors Buzz Forum Choices, Plus New YA Session
BEA’s Editors Buzz Forum will return to its traditional Thursday time slot, and adds a Young Adult Buzz Forum on Friday, May 29 “to address the growing interest in young adult books.” Along with announcing this year’s selection, convention officials note that criteria for buzz book consideration has now been formalized for future years: All nominated books must have a fall release timeline (September – January). All submissions must have a digital packet which includes jacket art, first chapter, imprint logo, author photo and SMPR (social media press release). BEA will create a “Books with Buzz” tab on its web […]
Searching Inside HarperCollins' Digital Catalog
HarperCollins has been promising for a while that it would make its seasonal catalogs an all-digital affair, and as of yesterday, starting with Fall 2009, they’ve taken that step with a beta version that features book jackets and covers, prices, on-sale dates, marketing information, reviews, sample spreads, quotes, important media alerts and additional media content. The aim is for a “significantly more dynamic experience” than the traditional print catalog, also making available select galleys and AREs for browsing. “We are providing an improved tool that will always contain current information and one that will save time and resources for publishers, […]
Baker & Taylor On "Bottom Rung" List
Baker & Taylor ranked on Moody’s Investor’s inaugural “Bottom Rung” list of companies considered at the greatest risk of default or bankruptcy after the B&T’s default rating was lowered last month to B3, with a negative outlook. Moody’s cited a drop in business (particularly on the retail distribution side) as well as B&T’s significant debt, combined with a weakening ratio of revenue to its interest payments.Charlotte Business Journal
People, Awards and Announcements
Debra Lande has been appointed publisher of Scholastic’s “book plus” imprint Klutz. She was most recently Director of Product Innovation at Chronicle Books. Christopher Navratil has been hired as publisher of Running Press, filling the slot vacated when Jon Anderson left to run Simon & Schuster Children’s. He was most recently publisher of Accord Publishing, after serving as editorial director of Potter Style. Granta has named Emily Cook as its US advertising director. Previously she was marketing director for Milkweed Books. At Bliss Literary, Willy Blackmore has been named an associate agent. Previously he was an editor and co-founder of […]
Hastings Entertainment Q4 Earnings Decline, Book Comps Up
Hastings Entertainment reported a decline in fourth-quarter earnings, with a net income of $4.07 million or $0.41 per share, compared to $5.82 million or $0.54 per share in corresponding period one year earlier. Total revenue for the quarter declined 2.7 percent to $166.88 million, from $171.49 million a year earlier.For the twelve-month period, net earnings fell to $4.1 million or $0.39 per share from $10.2 million or $0.93 per share in the previous year, while total revenues decreased 1.6% to $538.7 million from $547.7 million last year. Comparable store revenues for books, however, rose 1.3 percent for the year ending […]